A New Chapter in UN Village: Key’s high-end Housing Choice

SHINee’s Key has recently made headlines with his move into the prestigious ‘Sweet Castle 3’ villa, located in the heart of UN Village, Seoul. This move, showcased on the popular MBC entertainment program Live Alone, highlights the growing trend of celebrities investing in high-end real estate. Key secured a two-year lease with a ample deposit of ₩3.8 billion, marking his entry into one of Korea’s most exclusive residential areas.

‘Sweet Castle 3’: A Haven of Luxury and Privacy

‘Sweet Castle 3’ is more than just a residence; it’s a statement. Nestled within UN Village,known for its stunning Han River views and affluent residents,this villa offers a unique blend of residential and commercial spaces. The building spans five basement levels and three floors,housing retail stores,offices,parking facilities,and machine rooms alongside its exclusive residential units. The available units are generously sized, ranging from 143㎡ to 231㎡, catering to those who value space and privacy.

Ko Young-ha, CEO of AMC Asia and the owner of the property, previously offered a glimpse into the villa’s luxurious interiors through a video on the YouTube channel ‘Studio’. This sneak peek further fueled interest in the property and its exclusive lifestyle.

UN Village: A Hub for Celebrities and High-Net-Worth Individuals

UN Village’s allure extends beyond its luxurious residences. Its prime location along the Han River offers breathtaking views and convenient access to key transportation routes, including oksu Station (Line 3 and Gyeongui-Jungang Line) and major bridges like Hannam Bridge and Dongho Bridge. the area is also home to other prestigious villas, such as ‘Sangwoldae’, ‘Lateras Hannam’, ‘Heren House’, and ‘Parc Hannam’, solidifying its reputation as a premier residential destination.

Past Residents and Market Dynamics

The 143㎡ unit now occupied by Key has a history of notable residents. Previously, celebrity couple Sean and Jung Hye-young resided ther under a lease agreement with a ₩1.4 billion deposit back in 2013. Broadcaster Kim Sung-joo also owned a 150㎡ unit in ‘Sweet Castle 3’ for 12 years before selling it in 2020.

The exclusivity of ‘Sweet Castle 3’ is underscored by its limited number of households – just eight in total. This scarcity contributes to the high demand and limited availability of units for sale or lease. Currently, a 150㎡ unit is listed for charter sale at ₩2.5 billion, while a 231㎡ unit is also available, reflecting the premium associated with this coveted address.

Several entertainers have also leased commercial spaces within the building. Actress Go Ara, as a notable example, had a commercial lease with a ₩600 million deposit in 2020, which expired after a year.

The Broader Context: south Korea’s Luxury Housing Market

Key’s move into ‘Sweet Castle 3’ reflects a broader trend in South korea’s luxury housing market. According to recent data from the Korea Real Estate Board, the demand for high-end properties in Seoul has remained strong, despite fluctuations in the overall market. Factors such as low interest rates and a desire for exclusive living spaces continue to drive demand in areas like UN Village and Gangnam.

The appeal of UN Village lies in its combination of privacy, stunning views, and convenient access to the city’s amenities. It’s a place where residents can enjoy a tranquil environment without sacrificing urban convenience.

Lee Min-ho, Real Estate Analyst at Archynetys Research